Insurer Credit Risk Event definition

Insurer Credit Risk Event means: An event where: a an insurer of XXX becomes insolvent; and b as a result, in respect of an existing, or potential, claim for a risk that was insured by the insolvent insurer, AGN: i is subject to a higher or lower claim limit or a higher or lower deductible than would have otherwise applied under the insolvent insurer’s policy; or ii incurs additional costs associated with self-funding an insurance claim, which would otherwise have been covered by the insolvent insurer. Note for the avoidance of doubt, in making a determination on an Insurer Credit Risk Event, the AER will have regard to, amongst other things: a XXX’s attempts to mitigate and prevent the event from occurring by reviewing and considering the insurer’s track record, size, credit rating and reputation; and b in the event that a claim would have been made after the insurance provider became insolvent, whether AGN had reasonable opportunity to insure the risk with a different insurer.
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Insurer Credit Risk Event has the meaning given in clause 4.7.2.
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Insurer Credit Risk Event means an event where:
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Examples of Insurer Credit Risk Event in a sentence

  • Note for the avoidance of doubt, in making a determination on an Insurer Credit Risk Event, the AER will have regard to, amongst other things: i.

  • Insurer Credit Risk Event Origin notes the inclusion of the insurer credit risk event, which has been approved in some Access Arrangements, such as 2013-17 Envestra (Victoria) Access Arrangement and 2013-17 Multinet Gas Access Arrangement, but has not been approved for the proposed NSW Networks Access Arrangement.

  • Insurer Credit Risk Event means an event where an insurer of Evoenergy becomes insolvent and, as a result, in respect of an existing, or potential claim for a risk that was insured by the insolvent insurer, Evoenergy: o is subject to a higher or lower claim limit or a higher or lower deductible than would have otherwise applied under the insolvent insurer’s policy; or o incurs additional costs associated with funding an insurance claim, which would otherwise have been covered by the insolvent insurer.

  • Insurance Cap Event has the meaning given in section 4.6.3. Insurer Credit Risk Event has the meaning given in section 4.6.3. LNG Storage Facility means the LNG storage facility owned by Service Provider which is located at Dandenong.

  • As part of independent expert advice provided as Appendix 7.03 in the Revenue Proposal.3.6 Pass through events3.6.1 Nominated pass through eventsPowerlink accepts the AER’s Draft Decision for the following nominated pass through events: Insurance Cap Event; Insurer Credit Risk Event; and Terrorism Event.


More Definitions of Insurer Credit Risk Event

Insurer Credit Risk Event means: An event where the insolvency of the insurers of Service Provider occurs, as a result of which Service Provider:
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Insurer Credit Risk Event means: An event where: a an insurer of MultinetAGN becomes insolvent; and b as a result, in respect of an existing, or potential, claim for a risk that was insured by the insolvent insurer, MultinetAGN: i is subject to a higher or lower claim limit or a higher or lower deductible than would have otherwise applied under the insolvent insurer’s policy; or ii incurs additional costs associated with self-funding an insurance claim, which would otherwise have been covered by the insolvent insurer. Note for the avoidance of doubt, in making a determination on an Insurer Credit Risk Event, the AER will have regard to, amongst other things: a Multinet’sAGN’s attempts to mitigate and prevent the event from occurring by reviewing and considering the insurer’s track record, size, credit rating and reputation; and b in the event that a claim would have been made after the insurance provider became insolvent, whether MultinetAGN had reasonable opportunity to insure the risk with a different insurer.
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Related to Insurer Credit Risk Event

  • Flood Insurance Rate Map (FIRM means the official map on which the Federal Insurance Administration has delineated both the areas of special flood hazards and the risk premium zones applicable to the community.

  • Flood Insurance Rate Map means the most recent flood hazard map published by the Federal Emergency Management Agency under the National Flood Insurance Act of 1968 (42 U.S.C. Section 4001 et seq.).

  • Credit Risk means the risk of loss or of adverse change in the financial situation, resulting from fluctuations in the credit standing of issuers of securities, counterparties and any debtors to which insurance and reinsurance undertakings are exposed, in the form of counterparty default risk, or spread risk, or market risk concentrations;

  • Credit Risk Management Fee The amount payable to the Credit Risk Manager on each Distribution Date as compensation for all services rendered by it in the exercise and performance of any and all powers and duties of the Credit Risk Manager under the Credit Risk Management Agreements, which amount shall equal one twelfth of the product of (i) the Credit Risk Management Fee Rate multiplied by (ii) the Stated Principal Balance of the Mortgage Loans and any related REO Properties as of the first day of the related Due Period.

  • Eligible Investment Required Ratings A long-term debt rating of at least “A+” by S&P or a long-term debt rating of at least “A” by S&P and a short-term debt rating of at least “A-1” by S&P.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Credit Risk Manager Fee The fee payable to the Credit Risk Manager on each Distribution Date for its services as Credit Risk Manager, in an amount equal to one-twelfth of the Credit Risk Manager Fee Rate multiplied by the Stated Principal Balance of the Mortgage Loans immediately prior to such Distribution Date. Credit Risk Manager Fee Rate: 0.0165% per annum.

  • Credit Risk Manager The Murrayhill Company, a Colorado corporation.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent).

  • Letter-of-Credit Right means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.

  • Consumer credit transaction means a consumer credit sale or consumer loan, or a refinancing or consolidation thereof, or a consumer lease, or a consumer rental purchase agreement.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Standard Investment Period means the period beginning with the first day of any purchase or acquisition of Economic Development Property and ending five (5) years after the Commencement Date.

  • Letter-of-Credit Rights means "letter-of-credit rights" as such term is defined in the UCC, now owned or hereafter acquired by any Person, including rights to payment or performance under a letter of credit, whether or not such Person, as beneficiary, has demanded or is entitled to demand payment or performance.

  • Credit Risk Retention Rules shall have the meaning set forth in Section 4.9(a).

  • Liquidity Account Initial Date means, with respect to any Series, the date designated as the Liquidity Account Initial Date in the Appendix for such Series.

  • insurance intermediary means any natural or legal person, other than an insurance or reinsurance undertaking or their employees and other than an ancillary insurance intermediary, who, for remuneration, takes up or pursues the activity of insurance distribution;

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time (i) short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs or (ii) such other short-term debt ratings, if any, as may be required for the VRDP Shares to satisfy the eligibility criteria under Rule 2a-7 under the 1940 Act.

  • Insurance transaction means any transaction involving insurance primarily for personal, family, or household needs rather than business or professional needs that entails:

  • Credit Risk Obligation Any Collateral Obligation that, in the judgment of the Collateral Manager (which may not be called into question due to subsequent events or investment determinations made by the Collateral Manager for its other clients or investment vehicles managed by the Collateral Manager), has a material risk of declining in credit quality or price; provided that during a Restricted Trading Period, a Collateral Obligation will qualify as a Credit Risk Obligation for purposes of sales of Collateral Obligations only if (i) such Collateral Obligation has been downgraded by S&P at least one rating sub-category (which rating may include a credit estimate) or has been placed and remains on a credit watch with negative implication by S&P since it was acquired by the Issuer, (ii) the Credit Risk Criteria are satisfied with respect to such Collateral Obligation or (iii) a Majority of the Controlling Class consents to treat such Collateral Obligation as a Credit Risk Obligation.